Pick of the week: Kenneth Rogoff identifies several obstacles to keeping living standards on an upward trajectory. – Project Syndicate

“Capitalist economies have been spectacularly efficient at enabling growing consumption of private goods, at least over the long run. When it comes to public goods – such as education, the environment, health care, and equal opportunity – the record is not quite as impressive, and the political obstacles to improvement have seemed to grow as capitalist economies have matured.”